...It is not always easy to explain and define what are ethics. What is ethically right and what is unethical? What one think is ethically right might someone else think is unethical. The difference is sometime the evaluation and the principles which are different between cultures. When companies do business between different culture there will often be conflicts because of different ethical values. Some circumstances can be very difficult when companies stand against a very good contract but at the same time it violates their conscience. It is not always easy to evaluate what is right and what is wrong when you have very good contract and at the same time you are not sure if it is the right thing to do. The word ethics has it’s roots in the Greek word ethos, which means “customs,” “conduct,” or “character”( The Free Dictionary) Ethics is concerned with the kinds of values and morals an individual or society finds desireable or appropriate ( Northouse, 2010). Other say, when they think of what is ethic they mention the „ golden rule“ from the Bible which says in reverse version “Do unto others as you would have them do unto you” and the ethical theory point out that as system of rules or principles is that which helps us to make decision about what is good or bad and what is right and wrong in curtain situation ( Northouse, 2010 When it comes to what is costume or and what is norm in one country we compare it with the custom in our country and then we evaluate and compare the...
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...TopicsAcceptance EssaysArtsCustom PapersEnglishForeignHistoryMiscellaneousMoviesMusicNovelsPeoplePoliticsReligionScienceSportsTechnology Business Ethics What is business ethics? According to International Business Ethics Institute, understanding business ethics can be problematic in the sense that, this field is vast, often encompassing many concerns such as corporate governance, social responsibility, reputation management, accurate accounting and audits, fair labor practices and environmental stewardship to name a few. Moreover, it generally addresses the entire scope of responsibilities and obligations that a company has to each of its stakeholders like clients, employees, shareholders, suppliers and the community. To simply define business ethics, it is a form of applied ethics where it inculcates a sense within a company’s employees on how to conduct business responsibly. Business ethics seems easy to understand but when you get to the real one, you could find yourself in a confusing situation. Since the term ethics can pose many definitions in a broad context and it can be difficult to find a common understanding of the term, hence, most companies refer the concept of the term ethics as integrity, business practices or responsible business conduct. After you have known the basic definition of business ethics, you would now begin to know the business ethics of a chosen company. This paper aims to give some views on how Hewlett-Packard, an international company which provides mostly...
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...According to International Business Ethics Institute, understanding business ethics can be problematic in the sense that, this field is vast, often encompassing many concerns such as corporate governance, social responsibility, reputation management, accurate accounting and audits, fair labor practices and environmental stewardship to name a few. Moreover, it generally addresses the entire scope of responsibilities and obligations that a company has to each of its stakeholders like clients, employees, shareholders, suppliers and the community. To simply define business ethics, it is a form of applied ethics where it inculcates a sense within a company’s employees on how to conduct business responsibly. Business ethics seems easy to understand but when you get to the real one, you could find yourself in a confusing situation. Since the term ethics can pose many definitions in a broad context and it can be difficult to find a common understanding of the term, hence, most companies refer the concept of the term ethics as integrity, business practices or responsible business conduct. After you have known the basic definition of business ethics, you would now begin to know the business ethics of a chosen company. This paper aims to give some views on how Hewlett-Packard, an international company which provides mostly computer technologies worldwide, imposes their generally-established business ethics which means to say that it is enforced to their branches all over the world. Hewlett-Packard...
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...Business ethics are a pivotal aspect in strategic business finance, or finance in general. Poor ethical practices and immoral acts have been conducted across many years by many individuals and businesses in the business world in regards to finance. This paper will focus on two of the more well-known ethical issues that occurred in the late 1990s and early 2000s, Enron Corporation and WorldCom. This paper will focus on the factors that led to the demise of the corporations, as well as the violations that occurred within the accounting practices, and the specific ethical violations in strategic financial planning. To summarize, the largest contributing factor to the demise of Enron Corporation and WorldCom was simply corporate governance failure (Stanford GSB Staff, 2016). The smaller factors that led to the governance failure were such things as increases in executive compensation and stock options, jumps to incentives to manage earnings, and major shifts in the structure of auditing firms. These changes directly led to the loss of money and public confidence. These reason can be classified as nothing other than management greed. This can be validated by the statistical increases in worker compensation which rose forty-two percent in the 1990s as well as corporate profits rose eighty-eight percent, the standard and poor index increased two hundred and forty-eight percent, as well as CEO compensation rose four hundred and sixty-three percent during this timeframe (Stanford GSB...
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...Ethics and business An ethic is a moral philosophy by which one should abide. My belief is that ethics are a code of integrity and because of this an individual should undermine all rationality in order to influence one's "ethics" and determine what is right and what is wrong. Ethics relates the study of morality and human action. The concept comes from the Greek word ethikos, which means "character". An ethical sentence is a moral statement that made statements and what defines is good, bad, required, permitted, etc. in relation to an action or a decision. According to dictionary in the website, ethics relates the study of morality and human action. The concept comes from the Greek word ethikos, which means "character". An ethical sentence is a moral statement that made statements and what defines is good, bad, required, permitted, etc. in relation to an action or a decision. Business ethics is the accepted set of moral values and corporate standards of conduct in a business organization. The specifics of what this actually means can vary from one organization to another. (Merchant, 2014). What are the different types of business ethics research? There are many different types of business ethics research, and there are many different ethical systems in the world. Ethics does not necessarily help a business make more money, but it can promote company pride and maintain a sense of personal morality. . Almost all researchers understand to some extent that what behavior qualifies...
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...Professional Values and Ethics Name Gen 200 Instructor Name Date Team B Professional Values and Ethics Values and ethics are irreplaceable in the business world. Businesses live or die by their ethical reputations. It is very important to understand the importance of professional ethics and how they influence career success. Definition The simplest and most effective place to begin a discussion of ethics and values is with clear, concise, and generally accepted definition of the term values. Ethics are "a set of principles of conduct... that guide decision making and behavior" (uslegal.com, 2009). Values are "a set of principles or ideals that drive and/or guide your behavior" (essentiallifeskills.net, 2009). The philosophies and definitions of ethics and values appear closely related. Individuals and organizations’ Ethics and values appear internally driven and developed. Ethics can be thought of as a code of conduct derived from the value system. Environmental factors influence and determine ethics and values. These factors Include culture, physical environment, and peers. Ethics and values may not always...
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...determine if Reese, Inc. acted within business ethical and moral guidelines. As an employee of Price Waterhouse, Inc. and under retainer of the United States, Secretary of Commerce’s office to evaluate the manufacturing applicants for the Malcolm Baldrige awards, This evaluation is submitted, which clearly highlights whether or not Reese, Inc. maintained ethics in the workplace, modeled and sustained ethical behavior, upheld their social responsibility and ensured ethical and fiscal accountability in business. Various sources were used and analyzed in order to obtain information and guidelines on Business Ethics. As a result, issues were found and recommendations were made as to which way the company and its subsidiaries should have behaved. You decide Price Waterhouse, Inc. has conducted an evaluation in the Malcolm Baldrige awards and found some issues in regards to ethical and moral decisions. 1. Do you think Reese, Inc., adhered to a set of Business Ethics? If so, what were they? If not, what would you recommend as a set of business ethics for them? To start answering this question, we must look at the definition. Business Ethics can be defined as written and unwritten codes of principles and values that govern decisions and actions within a company. In the business world, the organization's culture sets standards for determining the difference between good and bad decision-making and behavior (White, 2011). Based on this definition it is clear that the standards of Reese...
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...Drucker The fundamental goal of any business, whether private or public, is to be profitable, and profitability relates to greater returns to the shareholders. Even in the non-profit segment of the business arena, a healthy bottom line ensures that the company can continue to operate and meet the needs and demands of its clients. The leaders of businesses and organizations are groomed or recruited for their positions because of an innate ability to provide successful business results. However, there is an underlying factor that influences an organizations ability to be successful and provide stakeholders with healthy financial performance. One of the key performance indicators of businesses according to Drucker (1981) is their engagement in ethical business practices or according to Friedman (1970) their social responsibility in the business arena. What is clear is the need for businesses to act in a responsible manner, including implementing actionable measures that include environmental factors, community involvement, financial stability, and corporate sponsorships, as well as having senior leaders who are willing to accept accountability for the actions of the businesses in which they are leading. However, there remains conflicting definitions of ethical business behavior, and “ethics is, after all, not a recent discovery. Over the centuries philosophers in their struggle with human behavior have developed different approaches to ethics, each leading to different conclusions”...
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...articles were: What is Business Ethics by Peter F. Drucker, 1981, The Social Responsibility of Business is to Increase its Profits by Milton Friedman, 1970 and The Relevance of Responsibility to Ethical Business Decisions by Patrick E. Murphy, 2010. Ethical Perspectives of Friedman, Drucker and Murphy Peter F. Drucker is known as the man who invented management. Drucker wrote many books on management and influenced the way business and industry thinks about management. “Peter F. Drucker was a writer, professor, management consultant and self-described ‘social ecologist,’ who explored the way human beings organize themselves and interact much the way an ecologist would observe and analyze the biological world (Drucker Institute, 2013).” Drucker’s paper from 1981, or 32 years ago, was trying to answer the same questions which today’s business society and government are trying to answer: What is business ethics/social responsibility and who is responsible for both? These are difficult questions to answer and questions which Drucker sets out to answer in Casuist, Ethics of Prudence and Confucianism. “Business ethics undoubtedly is a close parallel to casuistry. Its origin is political, as was that of casuistry. Its basic thesis, that ethics for the ruler, and especially for the business executive, has to express social responsibility is exactly the starting point of the Casuist. But if business ethics is casuistry, then it...
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...Organizational Design & Business Ethics: A Literature Review Abstract A review of the current literature regarding business ethics was conducted analyzing scholarly peer-reviewed articles about business ethics and their relation to leadership, managerial decision making, corporate social responsibility and overall corporate structure. Increased corporate scandals and the discovery of a rise in unethical business practices have thrown the topic of business ethics into the spotlight. Organizations are expected by their stakeholders to implement strong ethics within their corporate structure and culture. This expectation could be accomplished through strong ethical leadership, formal structures and regulations that place emphasis on ethics, and by making a commitment to corporate social responsibility. Using these guidelines will help organizations overcome the various challenges allowing the business to build a strong ethical foundation that will ultimately benefit the company through increased customer and employee satisfaction, which could result in increased profits, organizational sustainability and social status. The review of the literature reveals that there is still plenty of room for exploration on the topic of business ethics and particularly with the topic of ethical leadership. It is recommended that more focus be placed on understanding the influence of strong ethical leadership within an organization and how this influence flows down the organizational...
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...Understanding the Dilemma of Ethical Decision Making Understanding ethics and utilizing ethical business practices are key to the success in modern business. Traditional business organizations must take into consideration many more aspects of business today, than in the past when the focus was primarily on profits and making money for the shareholders. These ethical principles also influence non-profit and government organizations as well, taking into account the same ethical considerations that for profit organizations deal with. The modern concept of ethical organizations takes into account many issues, some of which include: • corporate social responsibility • the triple bottom line (economic, social and environmental) • ethical management and leadership • globalization • sustainability This list is not all inclusive. Ethics and ethical behaviors cover a wide range of factors and situations. Throughout the world there are many different definitions. With cultural, regional and society based interpretations of the concept. As such there are no world wide set of rules and no set standards of what is ethical. With the growing importance of ethics in the modern world, the fact that there are no set rules is fascinating. This begs the question, what is ethical? To understand this concept we must look deeper than the common definition of what an ethical organization is. There are so many factors that influence and affect an organizations ability...
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...Business Ethics and Corporate Responsibility Introduction Corporate Responsibility or Corporate Social Responsibility (CSR) has been a term coined in the previous century in order to define the social responsibilities of corporate heads and their corporations in securing the trust of its community by determining and fulfilling its roles towards the betterment of society. Simply following the rules set down by legislation would not do; corporate authorities and workers alike were demanded to be ethically inclined and considerate of how their actions affect society in general, both as residents and providers within their immediate communities. But both ethics and responsibility are vague terms, and prior to the 19th to 20th centuries, neither of them has been attached to business entities like corporations. Business ethics and corporate responsibilities, then, are much vaguer terms in that they entail more than simple and faithful provision of goods and services to people; some may even think that corporate giants and ethics do not exactly go together, or even share a superficial partnership. But these revolutionary concepts have played a major role in redefining corporations in the 21st century; these conceptual standards remain strong factors towards corporate determination of company action and assessment of overall company performance today. This paper will discuss business ethics and corporate responsibilities as sister terms, but also as discrete concepts, both of which...
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...Check Point: Business Ethics and Globalization Organizational Ethics and Social Responsibility July 12, 2013 Karen Heyse Globalization by definition is “the state of being globalized especially : the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets”. In knowing the definition of globalization it is there are many things that could be unethically incorrect in regards to globalization. First and foremost in regards to turning to a foreign country to be able to obtain cheaper labor can be a huge concern with globalization. The treatment of these foreign workers can be at times, less than human. Poor working conditions and poor working wages coupled with a work force that is considered corrupt at times makes for a very hostile work environment for the foreign labor force. Within the United States that are Child Labor Laws in place to protect young children from being forced into a work situation that could be considered unsafe as well as protects these children in making sure they are working a reasonable amount of hours, depending on the occupation. While in the United States these labor laws are in place, in other foreign countries they may not. Another ethical issue that can arise when taking a business global is the breakdown of the authority within the business. Is the chain on command being followed in the manner it should be. Is everyone aware...
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...VRIJE UNIVERSITEIT AMSTERDAM COURSE ETHICS 4.3 with special reference to PROFESSIONAL ETHICS Code 61432100 [final version January 10, 2012] Academic year 2011-2012 Period 3: January. Faculty of Economics and Business Administration: MSc Program Business Administration. Prof. dr. Eduard Kimman course assistant: Karin Tjeerdsma (k.t.tjeerdsma@vu.nl) Background This course, in the setting of various Master Programmes at the Faculty of Economic and Business Sciences, is about the morality of professional people acting in the context of a business organization. Business organizations or organizations as such do have a formal structure in which responsibility ultimately lies with a director or the board of directors. A business organization forms a context for a great variety of decisions. In a juridical perspective the organization is the bearer of numerous transactions. Inside organizations one may find remarkable opportunities for just or unjust behaviour, for moral or immoral behaviour, for situations of equality or inequality which deserve to be evaluated ethically. As FEWEB is a school for the study of economics and business administration in an economic perspective we focus on so-called “economic decisions” which are decisions being taken with some form of economic calculus. In this course we will spend time on questioning whether the economic or financial outcomes of these decisions are morally neutral or deserve some further moral investigation...
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...“Values and Ethics in the Workplace” Many companies market their brands by creating commercials and advertisements that showcase their commitment towards values and ethics. These marketing tricks draw us in, as consumers and as people because we relate to the commitment that they show. We relate because we all have our own sets of personal values and ethics that we have adapted to our lives. Growing up, our role models, religious beliefs and other influences helped shaped our personal values and ethics. It is easy to see where we get our own values and ethics, but what shapes a company’s values and ethics? To answer this question we must define what values and ethics are. Once we understand these definitions we can determine the sources of values and ethics in a professional environment and what impact these values and ethics might have on a company’s success. There are several definitions for the word “values”. In this case, the most relevant definition indicates that: “Values refer to moral principles or other judgments of worth” (Values, 2006, para. 1). As people, we develop our systems of values and moral beliefs according to what influenced us in our early years. Our values and morals are our personal guidelines or compasses that help us make decisions about what is right and what is wrong. With an understanding of values a person can act ethically. Acting ethically involves analyzing or interpreting a situation and deciding what is the “right” way to behave...
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